Thursday, August 30, 2012

Research confirms the obvious: Millennials love Trader Joe's

Consumer research gurus Onesixtyfourth, and their research arm CultureQ (hey, with names like that they have to be cool, if not prescient) recently surveyed the brand preferences of 'millennials' -- consumers born after 1981, who came of age after 2000. According to their survey, Trader Joe's has brand strength similar to Apple and Nike -- companies that spend exponentially larger amounts on brand advertising.

Interestingly, even though Trader Joe's is about a decade older than the Apple or Nike brands and has remained truer to its original concept than either Apple or Nike (both of which have radically evolved over their history) the millennials feel that Trader Joe's caters specifically to them. Readers of Build a Brand Like Trader Joe's will know that I make the case that the specific way Trader Joe's built its brand is noteworthy not just because the company eschewed brand advertising, but also because Trader Joe's brand building techniques are evergreen.

 “Looking at the Q2 data of our CultureQ research, it’s interesting that Trader Joe’s has cultivated an eclectic, cult-like following among millennials, particularly those that we have identified as trend setters and early adopters,” said Anne Bahr Thompson, founding partner of New York-based Onesixtyfourth. 'Cult'. That's a word that keeps coming up, isn't it?

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